The X account of Vivek Ramaswamy, co-lead of the Department of Government Efficiency (DOGE), was reportedly hacked to spread fake news about a collaboration with the stablecoin project USUAL.
The Usual stablecoin protocol, which launched just four months ago and recently hit a $1 billion market cap, saw its price surge by over 30%, reaching $1.57 following the unauthorized post.
In the now-deleted post, Ramaswamy allegedly stated the DOGE department had partnered with USUAL to reduce the federal fiscal deficit using crypto-based initiatives.
“We believe that this partnership will not only promote fiscal responsibility but also foster greater financial inclusion,”
the post read.
“Together, we are committed to exploring new avenues that harness the potential of digital currencies to achieve sustainable economic growth and stability.”
However, fund manager James Fishback clarified the situation, confirming with Ramaswamy that his account had been hacked.
“He is locked out of his account. This is a scam,”
Fishback wrote on X.
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